BUSINESS

Simon Johnson: The Big Banks Fight On

06/16/2011 12:43 am ET | Updated Aug 15, 2011

The bank lobbyists have a problem. Last week, they lost a major battle on Capitol Hill, when Congress was not persuaded to suspend implementation of the new cap on debit card fees. Despite the combined efforts of big and small banks, the proposal attracted only 54 votes of the 60 needed in the Senate.

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